NDVAJJ-1 03/17/2023 PMG (L) PMG 2023-1030 House Ways and Means Education Engrossed Substitute for HB257 ENGROSSED2 U8URXG-24 By6 RepresentativesA Garrett,BILL Ledbetter,TO Lovvorn,BE Stadthagen,ENTITLED Daniels,AN MooreACT (P),Relating Reynoldsto RFD:economic development;

Ways and Means Education First Read:

04-Apr-23 Page 0 HB257 Engrossed 2 4 6 A BILL TO BE ENTITLED AN ACT Relating to economic development;

A new Article 2D, commencing with Section 41-10-47.01, is added to Chapter 10 of Title 41, Code of Page 1 HB257House Ways and Means Education Engrossed Substitute for HB257 Alabama 1975, to read as follows:

Any parcel of real property intended for Page 2 HB257House Ways and Means Education Engrossed Substitute for HB257 development by a company.

(1) The site is comprised of at least 200 75 contiguous acres, provided that in addition to the 200 75 contiguous acres, other proximate but noncontiguous property may be a Page 3 HB257House Ways and Means Education Engrossed Substitute for HB257 part of the site.

All revenues received by the fund shall be Page 4 HB257House Ways and Means Education Engrossed Substitute for HB257 deposited in the fund upon receipt and may be invested by the board and withdrawn and expended by the authority for the purposes of this article in a manner consistent with the powers granted to the authority by this article.

In determining the Page 5 HB257House Ways and Means Education Engrossed Substitute for HB257 schedule, the board may emphasize future benefits in preference to near-term needs.

A board member acting in his or her official capacity may not be held personally liable for any liability, loss, or expense suffered by the fund, unless the liability, loss, or expense arises out of or results from the willful misconduct or intentional wrongdoing of the board member.

Solely as a result of entering into contracts, leases, agreements, investments, or otherwise, no local economic development organization, nor the officers, employees, agents, or directors of any of the foregoing, shall Page 6 House Ways and Means Education Engrossed Substitute for HB257 become subject to Chapter 25 or Chapter 25A of Title 36;

§41-10-47.09 The authority shall report annually to each member of Page 6 HB257 Engrossed the Legislature on the number, amount, and location of site grants distributed by the authority.

Page 7 HB257 Engrossed House of Representatives Read for the first time and referred ................04-Apr-23 to the House of Representatives committee on Ways and Means Education Read for the second time and placed ................12-Apr-23 on the calendar:

amendments Read for the third time and passed ................13-Apr-23 as amended Yeas 105 Nays 0 Abstains 0 John Treadwell Clerk Page 8